Regional hotels record revenue growth for 13th consecutive month
Provincial hotels recorded the 13th consecutive month of revenue growth during August, according to the latest HotStats UK Chain Hotels Market Review.
The results from regional properties, primarily in the three- and four-star markets, also showed the sixth month of profit growth this calendar year.
The figures were in contrast to the expected 12.4% fall in revenue per available room (revpar) and 27.7% drop in gross operating profit per available per room (GOPPAR) in London hotels, as a result of the comparison with the unprecedented Olympic year.
However, the picture is more positive for London when comparing hotel performance with two years previously, with revpar in August 2013 recording a rise of 26.4% over August 2011.
Revpar in the regions in August 2012 increased by 7.4% year-on-years thanks to an increase in average room rate of 2.6% and a rise in occupancy to 78.1%
Birmingham, which benefitted last year from Olympic teams setting up their training base in the city, showed further growth this year with total revenues increasing by 2.6% and GOPPAR by 9.7%.
Manchester was the second Olympic satellite city that did not suffer from any post-Olympic year-on-year setback in the month, with rising occupancy and higher average room rate resulting in a revpar rise of 14.2%.
The HotStats survey is based on a sample of 624 hotels.
Hotels results for July provide cautious optimism for future >>
Strong June results for London hotels, boosted by comparison to last year's pre-Olympic slump >>
